Economic Review April 2020

INFLATION SET FOR FURTHER FALLS

The headline rate of inflation in the UK fell in March with economists expecting a continuation of this downward trend over the coming months.

Office for National Statistics (ONS) data showed that the Consumer Prices Index (CPI) 12-month rate – which compares prices in the current month with the same period a year earlier – dropped to 1.5% in March, down from the previous month’s figure of 1.7%. This bucked the usual seasonal pattern with prices traditionally rising between February and March; this year was only the second time in over 30 years that this measure of inflation has fallen during this period.

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